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Housing trends are constantly fluctuating, but aside from some of the obvious factors that affect the housing market, oil prices appear to be having a negative impact on markets that are energy-dependent, according to a report from Auction.com.
The report showed that among the 50 largest markets in the U.S., Seattle, Fort Lauderdale, Orlando, Palm Beach County, and Portland occupied the top five spots in terms of rising home prices, affordability and strong demand, and positive economic and demographic conditions. On the other hand, Southern states lost momentum as oil prices tug on regional economies.
Officials of the Obama administration recently rejected investors' calls to reform Fannie Mae and Freddie Mac to end the seven-year conservatorship between the two GSEs. Over the last year, many investment firms and affordable housing advocates have pressed the Obama administration to reform the GSEs. Top adviser to President Barack Obama on housing matters Michael Stegman stated Monday that the administration will be keeping Fannie Mae and Freddie Mac under government control.
